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Source:
الوطن
Discounters Lead Medina
The city of Medina is seeing a decline and the closure of several major retail outlets, even as discount stores expand. The trend is driven by rising operating costs for large retailers and households across income groups seeking to rein in spending and compare prices. Economic expert Abdullah Muhaimid bin Hadas explained that low-price stores boost profitability by selling inventory quickly and turning it over frequently, while benefiting from bulk purchasing, direct dealings with suppliers, and lower costs. Consumers benefit from competition when it is accompanied by oversight of product safety and labeling. Digital commerce and warehouses dedicated to fulfilling orders are expected to intensify the sector’s transformation.
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